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On January 15 2002, the Mexican Congress passed a new Credit Information Law (Ley para Regular las Sociedades de Información Crediticia, or CBIL). The CBIL became effective on February 14 2002, and is the most recent attempt by the Mexican government to provide greater certainty and transparency to the gathering and supply of credit history. As in other countries, bureau credit companies serve as a means to collect and provide reliable information as to the credit history of individuals and corporate entities. Before the CBIL, the activity of credit information companies was regulated by three provisions of the Law on Financial Groups (Ley para Regular las Agrupaciones Financieras) and by certain general rules regulating credit information companies. Originally envisioned to provide input to banking institutions, the scope of credit information companies (CICs) has grown rapidly and now provide services to department stores and a wide variety of commercial companies offering credit.

On February 26 2002, the House of Representatives (Câmara dos Deputados) approved the Proposal of Constitutional Amendment (PEC) which allows the opening of Brazilian broadcasting media companies to foreign capital, up to a limit of 30% of their share capital. However, the editorial functions in such companies must be executed by Brazilian-born citizens or foreigners who have been naturalized for more than 10 years.

The final report of the Department of Trade and Industry's Company Law Review contains proposals to enable companies to migrate from one jurisdiction to another, without the need for a take over or acquisition of assets by a company already registered in the chosen country.

Last month IFLR celebrated law firms' achievements of 2001 when it hosted its annual awards ceremonies in London and Hong Kong. Among the top honours, Linklaters & Alliance was crowned European capital markets law firm of the year while Freshfields Bruckhaus Deringer won international law firm for Asia. Ben Maiden and Nick Ferguson present the winners of this year's awards and look at how, with the capital markets struggling to keep up the pace of the boom years, firms have found exciting new ways to serve clients

As Portugal finally introduces legislation that specifically deals with securitization, William Smithson and Alexandra Maia de Loureiro of P Rebelo de Sousa, Simmons & Simmons in Lisbon discuss its likely impact

The sharp contraction in US consumer spending has had a nasty knock-on effect in developing economies, leaving many companies needing to restructure their debt to survive. Neil Whoriskey of Cleary, Gottlieb, Steen & Hamilton, Hong Kong, gives an invaluable guide to successful restructuring and avoiding the many pitfalls it poses to companies

In the second of a three-part series, Philip Gilligan and John Banks of Lovells, Hong Kong, explain the key issues to be considered when planning to buy a bank in Asia

Maheen Pfeffer of Afridi Angell & Khan, Islamabad, assess the prospects for foreign investment and growth in the power industry

Under Law No19,601 enacted on January 18 1999, a public offering of offshore securities or securities deposit receipts (SDRs) can only take place in Chile if they have been previously registered in the Special Registry of Offshore Securities (ROS) kept by the Superintendency of Securities and Insurance (the SVS).

Like in many other European countries, Belgian companies have recently been setting up captive reinsurance companies in Luxembourg or Ireland to avoid or reduce taxes.